TORONTO, ONTARIO--(Marketwired - Aug. 15, 2016) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION BY ANY UNITED STATES NEWS DISTRIBUTION
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Quinsam Capital Corporation (CNSX:QCA) ("Quinsam" or the "Company") today
released unaudited financial results for the second quarter ended June 30, 2016 and provided investors with an update on recent
developments.
Q2/2016 Results
Quinsam reported net income of $130,739 in Q2/2016 ($0.00 per share) versus $269,789 in Q2/2015 ($0.01 per share).
The quarterly profit was after a non-cash expense of a little over $10,000 for share-based compensation.
"We were pleased to see Quinsam return to profitability in Q2/2016 after a difficult period in Canadian markets
generally and in particular small cap markets" said Roger Dent, CEO of Quinsam.
Quinsam's financial results and MD&A have been posted on sedar.com.
Update on Recent Events
"In recent months, market conditions in the small cap market have considerably improved" said Roger Dent. "After a
profitable Q2, and with Q3 now almost half completed, we remain on track to report a profitable result in the current
quarter."
"As mentioned in our last press release, we have seen liquidity events in two of our private investments, Imex
Systems Inc. and Deveron UAS Corp. We have also seen share price increases in many of our publicly-traded investments."
Stock Buyback Program
In Q2/2016, Quinsam acquired 35,000 shares at a cost of $2,800 pursuant to its normal course issuer bid to purchase
up to 1,320,383 of its common shares. Since then, Quinsam has acquired a further 282,000 shares, which brings our total purchases
under the issuer bid to 347,000 shares. All shares were purchased at $0.08, a level which makes purchases accretive to NAV for
remaining shareholders.
About Quinsam Capital Corporation
Quinsam is a merchant bank based in Canada. Our merchant banking business may encompass a range of activities
including acquisitions, advisory services, lending activities and portfolio investments. Quinsam invests its capital for its own
account in assets, companies or projects which we believe are undervalued and where we see a viable plan for unlocking such
value. We do not invest on behalf of any third party and we do not offer investment advice.
Generally, Quinsam does not believe that individual investments are material reportable events. Quinsam chooses to
announce certain investments once the company is certain that it has finished buying its position because the Company feels that
this information helps Quinsam's investors understand its investment decision making process. Generally, Quinsam does not
announce the sale of investments.
This press release may contain forward-looking statements relating to anticipated future events, results,
circumstances, performance or expectations that are not historical facts but instead represent our beliefs regarding future
events, which are inherently uncertain. Forward-looking statements can often, but not always, be identified by forward-looking
words such as "anticipate", "believe", "continue", "expect", "goal", "plan", "intend", "estimate", "may", "project", "predict",
"potential", "target", and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives,
assumptions, intentions or statements about future events or performance.
By their nature, forward-looking statements require us to make assumptions which include, among other things, that
(i) Quinsam will have sufficient capital under management to effect its business strategies, (ii) the business strategies will
produce the results intended by Quinsam, and (iii) the markets will react and perform in a manner consistent with the business
strategies.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in such forward-looking information. The Company believes that the
expectations reflected in the forward-looking information are reasonable but no assurance can be given that these expectations
will prove to be correct. Some of the risks and other factors that could cause actual results to differ materially from those
expressed in forward-looking information expressed in this press release include, but are not limited to: market and general
economic conditions, interest rates, regulatory and statutory developments, the nature of the Company's investments, the
available opportunities and competition for investments, the concentration of the Company's investments in certain industries and
sectors, reliance on key personnel, risks affecting the Company's investments, management of the growth of the Company, and
exchange rate fluctuations. Readers are cautioned that the foregoing list of risks and factors is not exhaustive. Although the
Company has attempted to identify important factors that could cause actual events or results to differ materially from those
described in forward- looking information, there may be other factors that cause events or results to differ from those intended,
anticipated or estimated.
The forward-looking information contained herein is provided as at the date of the date of this press release,
based upon the opinions and estimates of management and information available to management as at the date of this press release.
The Company does not undertake and specifically disclaims any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise, unless required by applicable law. Readers are
cautioned not to place undue reliance on forward-looking information contained in this press release.